Hawkins Corporation uses customers served as its measure of activity. During February, the company budgeted for 26,000 customers, but actually served 23,000 customers. The company bases its budgets on the following information: Revenue Wages and salaries Insurance Fixed element per month $0 $22,100 $0 $5,200 S2,100 Variable element per customer served $2.80 $0.70 S0.50 S0 $0.30 Miscellaneous Below is the Planning Budget as well as the Actual Results for February. Complete the Flexible Budget Performance Report showing the Revenue and Spending Variances and the Activity Variances. Don't forget to label each variance as favorable (F) or unfavorable (U). Revenue U Flexible F Budget 23,000 Activity U Var Actualand Results Spending or Planning F Budget 26,000 $72,800 Variances Customers 23,000 Revenue Ex Wages and $37,100 $63,800 $40,300 $13,000 $5,200 $9,900 $68,400 $4,400 Salaries Supplies$9,900 Insurance $5,400 Miscellaneous $6,200 Total Expenses $58,600 Net Income $5,200